ValuEngine upgraded shares of Financial Institutions, Inc. (NASDAQ:FISI) from a hold rating to a buy rating in a research note released on Monday.

FISI has been the subject of several other reports. Keefe, Bruyette & Woods reissued a hold rating and set a $33.00 price target on shares of Financial Institutions in a report on Friday, September 22nd. Piper Jaffray Companies reissued a hold rating and set a $31.50 price target on shares of Financial Institutions in a report on Thursday, August 3rd.

Shares of Financial Institutions (NASDAQ FISI) traded up 0.17% during trading on Monday, hitting $29.55. The company had a trading volume of 16,627 shares. The firm has a market capitalization of $443.19 million, a P/E ratio of 14.42 and a beta of 1.20. Financial Institutions has a 52-week low of $25.65 and a 52-week high of $35.40. The stock’s 50-day moving average is $27.55 and its 200 day moving average is $30.10.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.08). The firm had revenue of $36.76 million for the quarter. Financial Institutions had a return on equity of 10.03% and a net margin of 20.08%. Equities research analysts predict that Financial Institutions will post $1.95 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 14th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, September 13th. This represents a $0.84 annualized dividend and a yield of 2.85%. Financial Institutions’s dividend payout ratio is currently 40.98%.

A number of hedge funds and other institutional investors have recently bought and sold shares of FISI. Brandywine Global Investment Management LLC raised its holdings in Financial Institutions by 17.4% during the second quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock worth $142,000 after purchasing an additional 702 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Financial Institutions during the second quarter worth about $216,000. Virtu KCG Holdings LLC purchased a new position in Financial Institutions during the second quarter worth about $219,000. Smith Asset Management Group LP raised its holdings in Financial Institutions by 820.2% during the second quarter. Smith Asset Management Group LP now owns 7,638 shares of the bank’s stock worth $228,000 after purchasing an additional 6,808 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Financial Institutions during the first quarter worth about $264,000. 67.11% of the stock is owned by hedge funds and other institutional investors.

About Financial Institutions

Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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